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Monday, April 22, 2024

REE gets involved in part of Long Thanh airport project

The Saigon Times

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HCMC – Refrigeration Electrical Engineering Corporation (HOSE: REE) has received approval to get involved in part of the Long Thanh International Airport project, according to its general shareholders meeting on March 29.

This paves the way for REE to provide essential equipment and installation services for what will be the country’s biggest airport.

In addition to this significant development, the company has announced a dividend distribution plan for its shareholders.

Shareholders are slated to receive a cash dividend of 10% and a stock dividend of 15% for the fiscal year 2023. This translates to VND100,000 and 15 new shares for every 100 shares held. The distribution, sourced from undistributed earnings, is scheduled for April 26, with the record date set for April 15.

This year, the company aims to achieve revenue of nearly VND10.6 trillion and post-tax profit of VND2.4 trillion, a respective increase of 23.5% and 10.1% against the previous year.

Currently, the energy sector accounts for around 60% of REE’s profits. The firm plans to prioritize renewable energy projects while carefully considering divestment from thermal power investments to adapt to market dynamics and minimize disruptions.

Closing the trading session today, April 2, REE edged up by 1.26% over the previous session to VND64,100 per share, with a matching volume of nearly one million shares.

With 248 winners and 241 losers, the VN-Index rose by 5.52 points, or 0.43%, to 1,287.04 points.

The trading volume exceeded 1.08 billion shares worth VND27.5 trillion, with block deals totaling 56.6 million shares valued at nearly VND2 trillion. These figures represent a 12% increase in volume and an 18% rise in value versus the session earlier.

Within the VN30 basket, 15 bluechips advanced, while 13 others dipped. The VN30-Index moved sideways with a marginal decrease of 0.02%, losing 0.32 points to 1,292.30 points.

GVR and STB stole the limelight today. GVR shot up to its daily upper limit of VND35,250 per share, with a matching volume of around 10.2 million shares.

On the other hand, STB was the biggest decliner, falling 3.82% to VND30,200 per share. It was the most actively traded stock on the market today, with an all-time high trading volume of nearly 105.1 million shares.

The Hanoi Stock Exchange saw 82 gainers and 96 losers, with the HNX-Index rising by 3.01 points, or 1.24%, to 245.9 points. There were 121.1 million shares worth over VND2.7 trillion changing hands.

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